Mechanical Completion of Port Harcourt Refinery- NNPCL’s Christmas Gift to Nigerians The Port Harcourt refinery, situated in Nigeria’s oil-rich Niger Delta region and operational since 1965, stands as the oldest and largest among the three government-owned oil refining facilities in the West African nation. Operated by the Port Harcourt Refining Company (PHRC), a subsidiary of…
TotalEnergies Set to Resume Mozambique LNG Project in Early 2024, Say Sources French energy company TotalEnergies (TTEF.PA) intends to resume its long-postponed $20 billion liquefied natural gas (LNG) project in Mozambique in the first quarter of the upcoming year, according to two sources who spoke to Reuters late on Friday. The project has been on…
NCDMB Pledges Support for Capacity Utilization and Patronage of Nigerian Service Companies The Nigerian Content Development and Monitoring Board (NCDMB) has affirmed the ongoing strategic importance of patronizing and deploying indigenous oil and gas service companies. This commitment is aimed at leveraging the substantial development of operational capabilities that have occurred since the implementation of…
NIMASA Reaffirms Commitment to Global Best Practices in Maritime Operations The Nigerian Maritime Administration and Safety Agency (NIMASA) has reiterated its dedication to ensuring that shipping in the country adheres to global best practices. This commitment was emphasized during a one-day workshop on maritime codes and conventions for maritime reporters organized by NIMASA in collaboration…
Distinguished Academic Assumes Paramount Leadership Role and Unveils Latest Publication-“Global Dynamics of the Oil Industry” It is a historic event as Professor Augustine Ikein will be officially crowned as the King of Igbogene Kingdom in Yenegoa, Bayelsa State, Nigeria, on December 28, 2023. The occasion will also mark the public release of the King’s latest…
NLC Warns World Bank’s Proposed N750/Liter Petrol Price Poses Threat to Nigeria’s Economy The Nigeria Labour Congress (NLC) has condemned the World Bank’s proposal to increase the petrol price to N750, describing it as advice laden with mischief and intended to destabilize the country’s economy and long-term development plans. The NLC communicated its stance through…
NNPC Ltd Aims to Achieve Production of Two Million Barrels of Crude Oil Daily from Next Year The newly appointed Board and Management team of the Nigerian National Petroleum Company Ltd (NNPCL) pledged to achieve a daily production of two million barrels of crude oil by 2024. Chief Pius Akinyelure, the Chairman of the NNPCL…
NERC Report Reveals Federal Government Incurred N204.59 Billion Subsidy in Power Sector The Nigerian Electricity Regulatory Commission (NERC) reported that the federal government incurred a subsidy obligation of N204.59 billion, as stated in its 2023 third-quarter report. The subsidy expenses were attributed to the absence of cost-reflective tariffs across all electricity distribution companies (DisCos). This…
All On and BAOBAB Secure $2.25 Million Investment to Advance Solar Energy Systems in Nigeria All On, a Nigerian impact investment company, has signed a $2.25 million credit facility investment with Baobab Plus Nigeria as part of its Demand Aggregation for Renewable Technology (DART) program. The collaboration aims to deploy 1,536 Solar Energy Systems (SES)…
OPEC Daily Basket Price Reaches $78.03 a Barrel on Friday As of December 15, 2023, the price of the OPEC basket of 13 crudes was $78.03 per barrel, an increase from the previous day’s price of $76.77. The OPEC Reference Basket of Crudes (ORB) comprises a variety of crude oils from OPEC member countries, reflecting…
